United Kingdom's government has offered the U.S MNC a concessionary loan of 400 at a rate of 4% per annum to be repaid in three equal installments. The company's normal borrowing rate in dollars (i$) is 8.5% and 9.5% in Euros (i). The project will also generate an annual depreciation charge of 115 for the three years the project will run. Corporate income tax rate in the U.S is 35%. Corporate income tax rate in France is 32%. Calculate the APV of the project.